Brookdale Senior Living in talks with private equity firm Blackstone Group
11 January 2017
US assisted living and dementia-care provider Brookdale Senior Living Inc is in talks with private equity firm Blackstone Group and others on a potential deal to sell parts or all of the company, the Wall Street Journal yesterday reported, citing people familiar with the matter.
The talks are at an early stage and may not lead to a deal, the report said.
Brookdale, which has a market value of $2.39 billion, is the largest owner and operator of senior assisted living and dementia-care communities throughout the US, operating over 1, 077 senior living communities and retirement communities.
Founded in 1978 and based in Tennessee, Brookdale has around 80,000 employees serving some 100,000 residents.
The company also offers independent living, personalised assisted living, memory care for alzheimer's and dementia diagnosed residents, rehabilitation, skilled nursing, and continuing care retirement communities.
Brookdale has recently been pushed to sell itself by activist investors after seeing its stock fall by 59 per cent over two years, especially after it acquired Emeritus in 2014 due to poor integration.